Gold & USD React to Fed Chairman’s Speech

Fed Chair Jerome Powellspoke yesterday, and to be frank what he said was a bit of a surprise. Not so much in what he said – which was reasonably middle-of-the-road – but in how much reaction there was to it. The important part of what he said was that interest rates were “just below … neutral” which this Gold Enthusiast translates to, “I’m justifying the next planned rate hike in December now, and leaving my options open for next year.”

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